This settlement is the biggest recovery for income tax fraud in the history of the district.
Saylor faced accusations of trying to avoid paying more than $25 million in taxes.
Michael Saylor, a billionaire Bitcoin advocate and founder of software company MicroStrategy, and the District of Columbia have negotiated an unprecedented $40 million settlement. Claims of tax fraud led to the settlement. In addition, this settlement is the biggest recovery for income tax fraud in the history of the district.
The district’s revised False Claims Act, which incentivizes whistleblowers to expose tax cheating, was also used in this case, making it the first to be settled in this manner. Michael Saylor, a major player in the cryptocurrency industry, faced accusations of trying to avoid paying more than $25 million in taxes.
Tax Evasion Charges
In addition, from 2005 to 2020, the attorney general asserted in the case that Saylor and MicroStrategy participated in deceitful tax reporting
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